Picture this crazy scene: you have an e-commerce business and your lucky angel offers you all the money you need to grow your business.
What would you do?
Invest in advertising? Hire professional marketers? Redesign your website?
Now that you have the money you were craving for so long you need to decide what to do with them. Feeling the pressure?
Regardless your choice, be aware that the money will go away before you even notice. Therefore, make sure to get the most out of your investment by monitoring the right key performance indicators. Before jumping in any process of improving your website, you need to STOP, gather all the data you can and look at what it’s telling you. Knowing and understanding the real facts that have a bad impact on sales will help you to come up with the most efficient fixes.
Even if you have a high budget to spend on your marketing campaigns, you should regularly monitor a series of e-commerce KPIs, which will let you know if the business is heading into the right direction or not. Here are the most important ones:
For more details concerning the procedure of calculating and monitoring these e-commerce KPIs, check these resources:
ROI – Return on Investment
CAR – Cart Abandonment Rate
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